Analyzing the Liquidity and Solvency of the Cement Industry in the Indonesian Market: Financial Challenges and Prospects

Susilowati Susilowati; Erni Yulianti; Robby Rahadi Putra

doi:10.59431/ijer.v6i2.784

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Analyzing the Liquidity and Solvency of the Cement Industry in the Indonesian Market: Financial Challenges and Prospects

Susilowati Susilowati, Erni Yulianti, Robby Rahadi Putra

View Author Affiliations

Susilowati Susilowati: Universitas Tangerang Raya., Indonesia
Erni Yulianti: Universitas Tangerang Raya., Indonesia
Robby Rahadi Putra: Universitas Audi Indonesia., Indonesia

DOI:

https://doi.org/10.59431/ijer.v6i2.784

Published:

June 28, 2026

Pages:

457–466

19

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7

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Abstract

This study analyzes the liquidity and solvency of cement companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2025 period. The primary focus of the research is to identify the influence of financial ratios on the performance of cement companies, with particular attention to how liquidity and solvency ratios affect corporate stability and competitiveness in a highly competitive market. The study employs a descriptive quantitative approach, using secondary data collected from annual financial reports. The variables analyzed include liquidity ratios (Current Ratio and Quick Ratio), solvency ratios (Debt to Equity Ratio and Interest Coverage Ratio), and profitability ratios (Return on Assets and Return on Equity) as indicators of financial performance. The findings indicate that companies with strong liquidity and solvency ratios tend to maintain stable performance despite facing economic uncertainty. This study provides recommendations for cement companies to improve the management of financial ratios in order to strengthen their market position and ensure long-term operational sustainability.

Keywords

Liquidity; Solvency; Financial Performance; Financial Ratios; Cement Companies; Indonesia Stock Exchange

Author Biographies

Susilowati Susilowati

Universitas Tangerang Raya.

Accounting Study Program, Faculty of Economics and Business, Universitas Tangerang Raya, Tangerang City, Banten Province, Indonesia.

Erni Yulianti

Universitas Tangerang Raya.

Accounting Study Program, Faculty of Economics and Business, Universitas Tangerang Raya, Tangerang City, Banten Province, Indonesia.

Robby Rahadi Putra

Universitas Audi Indonesia.

Accounting Study Program, Faculty of Social Sciences & Humanities, Universitas Audi Indonesia, Medan City, North Sumatra Province, Indonesia.

Article Identifiers

Article Title: Analyzing the Liquidity and Solvency of the Cement Industry in the Indonesian Market: Financial Challenges and Prospects
DOI: 10.59431/ijer.v6i2.784
Publication Date: 2026-06-28

Journal: Indonesian Journal Economic Review (IJER)
Volume: 6
Issue: 2
Pages: 457–466

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Issue Information

Article Details

Volume:	6
Issue:	2
Year:	2026
Published:	2026-06-28
Pages:	457–466
Section:	Articles

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How to Cite

Susilowati, S., Yulianti, E., & Putra, R. R. (2026). Analyzing the Liquidity and Solvency of the Cement Industry in the Indonesian Market: Financial Challenges and Prospects. Indonesian Journal Economic Review (IJER), 6(2), 457–466. https://doi.org/10.59431/ijer.v6i2.784